Surviving Capitalism (Not) : If the Fraud Stops, the Financial System Collapses

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Sunday, January 9, 2011

If the Fraud Stops, the Financial System Collapses

by Charles Hugh Smith from his blog.

Unfortunately, this is the only entry I could find for today--and I found this at the last minute before my deadline of noon, Seattle time. Briefly, I think he makes many good points, but where I differ is that I believe that the capitalist system is INHERENTLY corrupt--the system IS organized crime. And it has always been that way, only now it is much worse.

Fraud, collusion, embezzlement, manipulation and misrepresentation of risk are not isolated incidents, they are now the essential fabric of our entire financial system.

Though fraud and complicity are presented in the mainstream media as isolated conspiracies outside the status quo, the truth is that the status quo is now entirely dependent on fraud and complicity for its very survival. Every level of the status quo would immediately implode were fraud and complicity suddenly withdrawn from the system.